Search
 

GM Sells $400M Property

WARREN, MI-After years of discussions, Grand Sakwa has purchased the 312-acre GM Parcel valued at $400 million. The property will become a mixed-use planned development with a neighborhood shopping center, approximately 1,100 housing units, and more than 100 acres of open space for community recreation.

By Dan Heaton | Updated on April 20, 2005

WARREN, MI-After more than two years of discussion, planning and city review sessions, GM said Wednesday it has sold a 312-acre property in Warren. The property, known locally as the “West of Mound” property is across Mound Road from the GM Technical Center. Grand Sakwa Properties, LLC of Farmington Hills, was the buyer and will develop the property. A purchase price was not disclosed, but the total value of the development planned by Grand Sakwa is $400 million.

The property, dubbed Heritage Village, will become a mixed-use planned development with a neighborhood shopping center anchored by a previously announced Meijer store, approximately 1,100 housing units, and more than 100 acres of open space for community recreation.

“This project demonstrates the benefit of economic development in a community of great importance to GM,” says Matt Cullen, GM’s general manager of economic development and enterprise services. “We are beginning to transform this undeveloped property into a mixed-used development that will greatly enhance the community and directly benefit its residents.”

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.